CJ Logistics Corporation Stock Forecast
Red day on Tuesday for CJ Logistics Corporation stock after losing 1.29%
(Updated on Apr 30, 2024)
The CJ Logistics Corporation stock price fell by -1.29% on the last day (Tuesday, 30th Apr 2024) from ₩124,200.00 to ₩122,600.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.80% from a day low at ₩122,000.00 to a day high of ₩124,200.00. The price has been going up and down for this period, and there has been a 7.73% gain for the last 2 weeks. Volume has increased on the last day by 26 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 75 thousand shares were bought and sold for approximately ₩9.23 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.23% during the next 3 months and, with a 90% probability hold a price between ₩94,572.23 and ₩109,766.71 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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000120.KS Signals & Forecast
The CJ Logistics Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₩124,671.43. On a fall, the stock will find some support from the long-term average at approximately ₩121,214.29. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.73%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for CJ Logistics Corporation stock
CJ Logistics Corporation finds support from accumulated volume at ₩120,000.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₩2,200.00 between high and low, or 1.80%. For the last week, the stock has had daily average volatility of 3.08%.
Our recommended stop-loss: ₩118,488.70 (-3.35%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (000120.KS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect CJ Logistics Corporation to open at ₩122,933.33, and during the day (based on 14 day Average True Range), to move between ₩117,651.58 and ₩127,548.42, which gives a possible trading interval of +/-₩4,948.42 (+/-4.04%) up or down from last closing price. If CJ Logistics Corporation takes out the full calculated possible swing range there will be an estimated 8.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩123,000.00 (0.33%) than the support at ₩120,000.00 (2.12%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
CJ Logistics Corporation will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $2,705.05. We will update the financials statements for CJ Logistics Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.29% in the first trading day after earnings release.
Is CJ Logistics Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.107 Buy Candidate Unchanged
Predicted Opening Price for CJ Logistics Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| ₩122,933.33 ( 0.272%) | ₩122,600.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000120.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 125,133.33 | 2.07 % | |
| R2 | 124,292.93 | 1.38 % | ||
| R1 | 123,773.73 | 0.96 % | ||
| Current price: | 122,600.00 | |||
| Support | S1 | 122,092.93 | -0.414 % | |
| S2 | 121,573.73 | -0.84 % | ||
| S3 | 120,733.33 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 134,100.00 | 9.38 % | |
| R2 | 126,100.00 | 2.85 % | ||
| R1 | 123,000.00 | 0.326 % | ||
| Current price | 122,600.00 | |||
| Support | S1 | 120,000.00 | -2.12% | |
| S2 | 118,200.00 | -3.59% | ||
| S3 | 117,800.00 | -3.92% |
000120 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 29, 2024 | Mar 29, 2024 | May 01, 2024 | ₩500.00 | 0.408% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩500.00 | 0.529% |
FAQ
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